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Northwest Seattle’s real estate market displaying some increasing buyer demand

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Managing Real Estate Broker with 206 909-7536 AdrianWillanger-broker.com 17900


Northwest Seattle’s real estate market displaying some increasing buyer demand
 
This Week:
 
The median list price in northwest Seattle is $787,000 down from last week’s $799,975.  Inventory has been lightening lately and the Market Action Index  (see below MAI chart) has been trending up.  Though days -on-market  is increasing, these are mildly positive indications for the market.
 
Average days-on-market (89 days)  up  from last week’s (76 days), asking price per square foot $304, median house size 2960 (sq ft).
 
 
Supply and Demand
 
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
 
 
 
  Price
 
Again this week we see prices in northwest Seattle remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for  persistent up-shift in the Market index before we see prices move from these levels.
 
Localized real estate market reports are great for getting a “feel” of what that specific market is doing.Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current sales. With all of the current news regarding the real estate market in the Puget Sound area it is still a market filled with some headwinds and uncertainties.
 
Home sellers must continue to look at all the above factors when evaluating offers on their property. The above graphs for the Northwest Seattle real estate market will show recent trends on a micro level in Northwest Seattle that will in a large part reflect the prices buyers and sellers are willing to pay and receive for real estate in the area.Northwest Seattle home and lifestyle search.

 

LIVING IN NORTHWEST SEATTLE

The Northwest corner of Seattle has some of the very best views of Puget Sound and the Olympic Mountains and amazing sunsets.  Homes listed for sale in  four communities within the 98177 zip code are Blue RidgeBroadview, and the The HighlandsInnis Arden and Richmond Beach.

Physically the  Northwest Seattle region looks lake a  destination area, with it’s  western border being Puget Sound  these neighborhoods with the Northwest region take-on a  destination feel to them. Which lends itself to the attractiveness and popularity of this region in Seattle. The northwest area is filled with public parks that are great for day hiking, picnics and field trips for the kids. Receive

 
FREE WEEKLY UPDATES on the latest Northwest Seattle real estate market
trends e-mailed to you weekly. Sign up here. 
 

Northwest Seattle median prices vs. all of Seattle

Real Estate Market Chart by Altos Research www.altosresearch.com
 
For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood
 
 

 

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Adrian specializes in green home marketing utilizing traditional and social media marketing to create the widest exposure of your property.